Universidade Federal do Ceará
Departamento de Química Orgânica e Inorgânica

When comparing median base salaries, these numbers were a little more favorable, with women earning 86% of what men did. Based on the 2023 United States survey, the median base salary for US-based CMAs was around $124,000. Meanwhile, the median total compensation, which included bonus pay, profit-sharing, and other forms of compensation was around $139,000. When you compare this year’s CMA salary numbers to the previous year, you can see that base salary increased 3.5% and total compensation increased by 1.6%.

Global CMA Salary

While it’s incredibly clear that having some certification is better than none, respondents were asked how the certified management accountant certification impacted their careers. A previous survey found that the majority of CMAs go on to hold senior management positions. Plus, 63% of IMA survey respondents in Europe said that this designation helped them secure opportunities to advance and get promoted in their careers.

This is about 50% more than the salary of non-CMA accountants in Asia, which was $20,000 base and $23,000 in total. Institute of Management Accountants (IMA) periodically conducts a global salary survey Opens in new window to discover trends in compensation and other useful information for members. This particular breakdown of the certified management accountant salary survey is my favorite. According to the Association of Accountants and Financial Professionals in Business, the highest-paid CMAs in the Americas make around $195,000 annually. The base average certified management accountant salary in the Americas for 2023 was $129,961. Including bonuses and compensations, the average net income for a CMA employee is $153,874.

Plus a 3-Part CMA Video Course

In fact, the benefits of a CMA certification are even more significant for early-career professionals. Regarding age parameters, median salary premiums are highest for Generation Z (41%) and the lowest for Generation X (10%). IMA members in their 20s and 30s see the largest gains from the CMA certification. Here’s how much you’d earn as a Gen Z entering the market as a CMA, compared to Gen X and other generations.

With deep knowledge of management accountancy, business acumen, and leadership skills, CMAs often rise faster than non-certified peers to top management roles. This ability to ascend to leadership positions quickly gives CMAs an edge, compensation-wise, over other accountants. Globally, the gap between women’s and men’s compensation is virtually nonexistent, which is especially significant since women’s salaries were only 90% of men’s during the previous year.

WHAT IS A CMA (CERTIFIED MANAGEMENT ACCOUNTANT)?

However, CMA premiums are highest in Europe (45%) and the lowest in the Asia-Pacific region (11%). As CMAs practice in over 100 countries, salaries range widely depending on region and overall cost of living. IMA’s Salary Surveys compare earnings specific to management accountants and those holding CMA® (Certified Management Accountant) certification. IMA’s latest survey findings show that there are clear earnings-specific advantages for CMAs. CMAs worldwide received about 84% of their total compensation via their base salary. The remainder of their compensation came in the form of bonuses, profit sharing, overtime, and other benefits.

• However, there isn’t an individual 2023 salary survey report released for China.
• So, let’s examine how these factors affect accounting professionals in the U.S.
• Here’s how much you’d earn as a Gen Z entering the market as a CMA, compared to Gen X and other generations.
• If you have ever wondered if earning your CMA designation was worth it, then read on because the next few numbers are pretty encouraging.
• The biggest takeaway from the 2023 survey is that women tend to experience the largest pay gap when they are older and in higher management positions.
• IMA’s latest survey findings show that there are clear earnings-specific advantages for CMAs.

CMA Salary Survey Results in India

Now, if you live in India and are thinking of earning your CMA, do not let the above stats discourage you. It turns out that CMAs in India earn more than their non-CMA counterparts, especially if they hold an advanced degree. If you’re wondering how to negotiate a salary raise in your accounting position, the CMA salary of certified management accountant designation is enormous leverage that proves both your abilities and readiness to grow. Obviously, earning your CMA has its financial benefits, but respondents had even more good things to say about it. That said, because women respondents made up about 19% of the data sample, it’s best not to draw any firm conclusions based on this singular report. In terms of gender disparities, we still see a pay gap, but it’s important to note it has been improving over the years.

Certification Effects on Median Salary

Since we’re on the topic of career advancement, I think it’s important to mention that while the average CMA in China earns just over $38k annually, you can surpass this figure. Of course, it’s expected that the older you are, the more experience you likely have. So it’s not too surprising that older age groups earn more than younger ones.

• While this doesn’t seem like much, the average professional earned more in KSA than in the Middle East/Africa/India (MEAI) region.
• CMA is a highly sought-after accounting credential for professionals interested in management and financial accounting opportunities.
• In 2019, women of all ages in China earned 70% of the salary of their male counterparts.
• In 2023, the majority of respondents came from the U.S. (31%) and China (29%).

Your Career

Becoming a CMA advances your career by opening up new, upper-level positions. After all, making cost-minded decisions is a valuable asset in any industry. They provide the “why” behind the numbers, manage project proposals, and advise on the potential for future profits. More than 73% of CMAs agreed that the certification improved the career opportunities available to them. You can also read previous years’ CMA salary statistics and trends to learn how they’ve changed over time. The 2023 IMA Global Salary Survey collected data from over 2,500 IMA members in 69 different countries.

However, the salary of IMA members in the United States has continued to increase ever since. On average, the IMA surveys have recorded a 15% increase in salary per year. Overall salary and compensation in the U.S. have continued to increase.

CMA salaries are representative of the value that CMAs bring and the exciting opportunities they can explore. Read our in-depth CMA salary information or jump to the benefits of becoming a CMA. The CMA certification is the leading advanced professional certification designed specifically for accounting and financial management professionals in business.

The median base salary for CMAs in Europe was $70,000, and the median for non-CMAs was $50,000. Of all regions, Europe saw the largest increase (17.4%) in survey respondents age 20-29. In 2023, both the average base salary and total compensation for a CMA holders in Europe was 41% higher than those who did not have any certifications. Interestingly, those with both a CMA and CPA earned 97% more in average salary compared to those who had neither.

Depending on your region, attaining both certifications might even double your salary. Many accounting professionals hold dual CMA and Certified Public Accountant (CPA) credentials. These certifications offer better opportunities and higher earning potential. While the average salary for both CMA and CPA is similar in the U.S., the difference varies in other markets and countries.